| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|
| transaction | TTWO | Common Stock | Disposed to Issuer | $0 | -67.9K | -5.92% | $0.00 | 1.08M | May 31, 2024 | By ZMC Advisors, L.P. | F1, F2, F3 |
| transaction | TTWO | Common Stock | Sale | -$7.85M | -49.4K | -4.58% | $158.96 | 1.03M | May 31, 2024 | By ZMC Advisors, L.P. | F4, F5, F6, F7 |
| transaction | TTWO | Common Stock | Sale | -$5.13M | -32.1K | -3.11% | $160.08 | 997K | May 31, 2024 | By ZMC Advisors, L.P. | F4, F5, F6, F8 |
| transaction | TTWO | Common Stock | Sale | -$981K | -6.11K | -0.61% | $160.65 | 991K | May 31, 2024 | By ZMC Advisors, L.P. | F4, F5, F6, F9 |
| transaction | TTWO | Common Stock | Other | $0 | -84.1K | -8.49% | $0.00 | 907K | May 31, 2024 | By ZMC Advisors, L.P. | F10 |
| transaction | TTWO | Common Stock | Other | $0 | +16.5K | +58.25% | $0.00 | 44.9K | May 31, 2024 | Direct | F10, F11 |
| transaction | TTWO | Common Stock | Award | $0 | +516K | +56.92% | $0.00 | 1.42M | Jun 3, 2024 | By ZMC Advisors, L.P. | F12, F13 |
Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.
Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).
| Id | Content |
|---|---|
| F1 | EXPLANATORY NOTE: This Form 4 relates to (i) the vesting of 171,689 restricted units previously granted to ZMC Advisors, L.P. ("ZMC") on June 1, 2022 and June 1, 2023 under the Management Agreement, dated effective May 23, 2022, between the issuer and ZMC (the "Management Agreement"), and the sale of shares of Common Stock by ZMC, including in order to satisfy the tax obligations arising from such vesting, pursuant to a Rule 10b5-1 trading plan adopted on December 8, 2023 by ZMC, (ii) the forfeiture of 67,920 performance-based restricted units previously granted to ZMC on June 1, 2022 under the Management Agreement due to the failure to meet certain performance conditions, (iii) the distribution by ZMC to certain of its employees of 84,128 shares of Common Stock received by ZMC upon such vesting in accordance with the customary historical practices of ZMC, and (iv) the annual grant of restricted stock units to ZMC on June 3, 2024, in each case as further described below. |
| F2 | Represents the forfeiture of 67,920 performance-based restricted units previously granted to ZMC on June 1, 2022 due to the failure to meet certain performance conditions. |
| F3 | Represents 906,909 restricted units and 171,689 shares of Common Stock held directly by ZMC (in each case after giving effect to the forfeiture and vesting described in footnote (2) above and footnote (6) below), of which Mr. Slatoff is a partner (and such securities are not held individually by Mr. Slatoff). Mr. Slatoff disclaims beneficial ownership of the securities held by ZMC except to the extent of his pecuniary interest therein. |
| F4 | All of the sales reported in this Form 4 were made pursuant to a Rule 10b5-1 trading plan adopted on December 8, 2023 by ZMC related to the vesting of restricted units granted pursuant to the Management Agreement. |
| F5 | These transactions are reported on separate lines due to the range of the sale prices. |
| F6 | On May 31, 2024, 171,689 restricted units previously granted to ZMC vested. The reported sale transactions were effected pursuant to a Rule 10b5-1 trading plan adopted on December 8, 2023 by ZMC, including to satisfy the tax obligations of the partners of ZMC upon the vesting of such restricted units. |
| F7 | Represents a weighted average sales price of shares sold in multiple transactions at sales prices ranging from $158.46 to $159.46, inclusive. Upon request, the Reporting Person undertakes to provide the full sale information regarding the number of shares sold at each price increment to the Commission, the issuer or any security holder of the issuer. |
| F8 | Represents a weighted average sales price of shares sold in multiple transactions at sales prices ranging from $159.47 to $160.47, inclusive. Upon request, the Reporting Person undertakes to provide the full sale information regarding the number of shares sold at each price increment to the Commission, the issuer or any security holder of the issuer. |
| F9 | Represents a weighted average sales price of shares sold in multiple transactions at sales prices ranging from $160.48 to $160.84, inclusive. Upon request, the Reporting Person undertakes to provide the full sale information regarding the number of shares sold at each price increment to the Commission, the issuer or any security holder of the issuer. |
| F10 | On May 31, 2024, 171,689 restricted units previously granted to ZMC vested. Following such vest, ZMC distributed a total of 84,128 shares received upon vesting to its employees, including 16,545 shares to Mr. Slatoff, which shares Mr. Slatoff had previously indirectly beneficially owned through ZMC. |
| F11 | Mr. Slatoff received 16,545 shares pursuant to a distribution, as further described in Footnote (10) above, which receipt was exempt from Section 16 as such shares were previously held by Mr. Slatoff indirectly through ZMC. |
| F12 | Represents the grant of 516,179 restricted units to ZMC pursuant to the Restricted Unit Agreement entered into by ZMC and the Company on June 3, 2024. Includes (a) 101,999 time-based restricted units, 33,999 of which units are scheduled to vest on June 1, 2025, 34,000 of which units are scheduled to vest on June 1, 2026, and 34,000 of which units are scheduled to vest on June 1, 2027, and (b) 414,180 performance-based restricted units (representing the maximum number of performance-based units that are eligible to vest) that are subject to vesting on June 1, 2027. Further information regarding the Restricted Unit Agreement and the restricted units, including the vesting schedule, is available in the Company's Registration Statement on Form S-3 filed with the Commission on June 3, 2024. |
| F13 | Represents 1,423,088 restricted units held directly by ZMC Advisors, L.P., of which Mr. Slatoff is a partner (such securities are not held individually by Mr. Slatoff). Mr. Slatoff disclaims beneficial ownership of the securities held by ZMC Advisors, L.P. except to the extent of his pecuniary interest therein. |